White-col­lar hir­ing plat­form Sna­phunt nabs $1.36m seed fund

Singapore Business Review - - STARTUPS -

Sin­ga­pore-based AI hir­ing mar­ket­place Sna­phunt raised $1.36m in seed fund­ing led by in­ter­na­tional data tech-fo­cused VC firm BEENEXT. Sna­phunt es­sen­tially acts like a re­cruit­ment agency but with­out a hu­man re­cruiter, as it uses ar­ti­fi­cial in­tel­li­gence so­lu­tions that match the jobs avail­able to job seeker’s pro­file.

Em­ploy­ers can fur­ther in­ter­view can­di­dates eas­ily and con­ve­niently us­ing pre-recorded in­ter­views on Sna­phunt’s plat­form. The plat­form can save at least 30% of time spent on

hir­ing, re­duce hir­ing ef­fort by more than 50% and lower hir­ing costs by as much as 99%, as com­pared to us­ing re­cruit­ment agen­cies.

“We will be spend­ing this in­vest­ment on mak­ing some key hires and aggressive­ly ex­pand­ing our foot­print in Sin­ga­pore be­fore ex­tend­ing it to other South­east Asian coun­tries later this year,” said Tu­lika Tri­pathi, founder, Sna­phunt. Tri­pathi said that they spent al­most two years in boot­strap­ping the busi­ness to build a prod­uct, as well as an­other year and a half for re­search and devel­op­ment An­other six months was spent in run­ning a beta test be­fore tak­ing it com­mer­cially live.

Sna­phunt fo­cused on white-col­lar hir­ing be­cause there have been new spe­cial­ist roles pop­ping up in the last 3-4 years, noted Tri­pathi, adding that find­ing such roles for em­ploy­ers would be dif­fi­cult as there were no set foot­prints on how to search for such tal­ent. “So it re­ally comes down to un­der­stand­ing com­pe­ten­cies, un­der­stand­ing un­der­ly­ing skills to be able to find peo­ple for this role,” she noted.

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